Justin Fischer
๐ค SpeakerAppearances Over Time
Podcast Appearances
Why?
Just to kind of compound on that a little bit, the banking industry is really led by federal regulators, right?
And state-based regulators, but a bunch of different acronym agencies that enforce compliance.
And in the last probably decade or so, their guidance has been very convoluted and difficult for banks to follow.
It ends up making ridiculous things come out when the examiner sits and talks with the bank.
Nathan, you've got 300 ATMs.
You know what?
I'm going to decide to make you have to open up 300 different bank accounts for every ATM just so I can separate cash easier.
An examiner actually told a bank that.
and force the bank to not be able to bank that business, right?
And they force them through saying, hey, this could be an enforcement action to you.
Hundreds of thousands of dollars.
It depends on how you do your process.
But most ATM machines will only have about 20K or less in them.
But I mean, I'm sure you've seen in the news where people pull up trucks and drag these ATMs out and do all kinds of crazy stuff.
You take an ounce of intelligence and you watch someone feed it, not advocating crime, but that's unfortunately a very sensitive area.
And so that's why you'll see more armored car services.
But every time you use those other third parties, they're cutting in on your fees, right?
So we help make, we make money by helping the institutions do compliance, right?
So when a, let's just say, let's just take a different market, like a THC dispensary, right?